Monday
Jul202009
S&P 500 Approaches Intraday Rally Highs
Monday, July 20, 2009 at 08:32AM The S&P 500 continues its upward trajectory off of its July lows today with another gain of 0.65% as of 12:30 PM ET. Below is a candlestick chart of the index showing the path that it has taken since bottoming on March 9th. As shown, the intraday peak for the S&P 500 was 956.23 on June 11th. As it stands now, the S&P only needs to gain slightly more than one percent to take out those highs The 956 level will probably be met with some resistance, but the bulls are hoping earnings season will be enough to push the index through to new highs.
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